Does anyone have insight on winning an auction from HOA?

[Mike Vincent]

What does this do to the first position? Will they allow a loan assumption as the new deed owner? 

[Ron S.]

There aren't any insights. An HOA foreclosure is the same as any other foreclosure. Bid and win then pay and then own and then pay more if there is a mortage/heloc on the property.

They (The HOA) aren't the lender so, they have no loa for you to assume. If you bid on the HOA foreclosure, you more than likely bid subject to any existing senior liens (Like a lender). if the property is in North Carolina, NC is NOT a super lien state so, no, a HOA foreclosure will not wipe out the lender unless they recorded behind the HOA meaning, more than likely, you'll bid, win, then get a notice from the lender (Assuming there is a loan) stating to pay them or they'll foreclose (Happens every day). Then, you'll either have to pay the loan off or you'll get wiped out and no, you can't assume the loan. 

and no...you aren't going to be assuming anyone's loan unless its a VA loan and if it was, it would more than likely be accelerated due to the HOA foreclosure. That said, in the one in a million chance existed for you to assume one, no you don't have to be current with no lates for 24 months but, you would have to qualify.